topic Re: Question re: Chase and Freezing Accounts in Credit Cards

Question re: Chase and Freezing Accounts

Anonymous — Fri, 24 May 2019 17:04:42 GMT

So I've learned that Chase will shut you down if they find out you've applied for new credit too soon after getting one of their cards. I'm assuming they can find that out during their infamous "financial review" by doing a soft pull. However, let's say I apply for and get a CSP, then get another card a few days later, and then freeze all of my reports... will Chase still be able to pull my credit and see what I've been up to if my reports are all frozen?

Re: Question re: Chase and Freezing Accounts

AverageJoesCredit — Fri, 24 May 2019 17:05:56 GMT

Yes

Re: Question re: Chase and Freezing Accounts

Anonymous — Fri, 24 May 2019 17:12:57 GMT

I figured. I was like "I can't be the first person who has thought of something like this, so it must not work." LOL

Re: Question re: Chase and Freezing Accounts

FinStar — Fri, 24 May 2019 17:13:19 GMT

OP, keep in mind that these maneuvers or "tactics" to circumvent any secondary review process rarely works. Besides having access to the major CRAs, they also have access to other internal data and/or various reporting sources.

Re: Question re: Chase and Freezing Accounts

the_jan_b — Fri, 24 May 2019 17:17:53 GMT

@Anonymous wrote:
So I've learned that Chase will shut you down if they find out you've applied for new credit too soon after getting one of their cards. I'm assuming they can find that out during their infamous "financial review" by doing a soft pull. However, let's say I apply for and get a CSP, then get another card a few days later, and then freeze all of my reports... will Chase still be able to pull my credit and see what I've been up to if my reports are all frozen?

To my understanding, yes they would; since you have an account with them, they can access your report even if it is frozen.

Re: Question re: Chase and Freezing Accounts

coreysw12 — Fri, 24 May 2019 18:03:37 GMT

I thought about doing this, too, then decided not to try. In addition to this trick probably not working, I wonder if it looks "suspicious" that all your credit files have a freeze on them when they go to check a few weeks after they gave you a card. It might spook them into thinking there's a fraud issue going on, maybe?

Re: Question re: Chase and Freezing Accounts

gdale6 — Fri, 24 May 2019 18:30:35 GMT

@coreysw12 wrote:
I thought about doing this, too, then decided not to try. In addition to this trick probably not working, I wonder if it looks "suspicious" that all your credit files have a freeze on them when they go to check a few weeks after they gave you a card. It might spook them into thinking there's a fraud issue going on, maybe?

The creditor would not know there is any freeze as they have access as long as there is a legitimate business need and having a card with them qualified for such.

Re: Question re: Chase and Freezing Accounts

SBR249 — Fri, 24 May 2019 18:33:46 GMT

@coreysw12 wrote:
I thought about doing this, too, then decided not to try. In addition to this trick probably not working, I wonder if it looks "suspicious" that all your credit files have a freeze on them when they go to check a few weeks after they gave you a card. It might spook them into thinking there's a fraud issue going on, maybe?

It's actually not very unusual to have one's CRs semi-permanently frozen and only unlocked for a brief period of time when one needs to app for a loan or a credit product.

In this case, Chase SPs applicants usually in the month or two after a successful app, to check that their CRs do not dramatically change in the time since their application was approved. According to FCRA and general conventional practice, an authorized company with whom you already have a pre-existing business relationship may SP your CR any time for purposes of offering you products/services or to monitor your creditworthiness and this can be done without explicitly asking you for permission every time. This can be done even if your CR is frozen. One thing to note is that the list of companies that SP your report will not be visible to anyone but you.

Companies may not HP you, however, unless you initiated a transaction and gives them permission to pull your CR (like requesting a CLI or apping for a new card). If your CR is frozen, then a HP is not possible and they would need you to unfreeze the report to proceed. Sinec HPs are tied to specific requests for credit, a list of HPs are visible to those who pull your CR.

Re: Question re: Chase and Freezing Accounts

coreysw12 — Fri, 24 May 2019 18:34:05 GMT

@gdale6 wrote:
@coreysw12 wrote:
I thought about doing this, too, then decided not to try. In addition to this trick probably not working, I wonder if it looks "suspicious" that all your credit files have a freeze on them when they go to check a few weeks after they gave you a card. It might spook them into thinking there's a fraud issue going on, maybe?
The creditor would not know there is any freeze as they have access as long as there is a legitimate business need and having a card with them qualified for such.

Good to know - so while it wouldn't necessarily hurt to freeze your reports, it also wouldn't help.

Re: Question re: Chase and Freezing Accounts

Anonymous — Fri, 24 May 2019 20:38:37 GMT

Read the contract you agree to when applying and accepting a credit card i.e. the Cardmember Agreement. It typically gives the creditor the right to pull your credit information.

Re: Question re: Chase and Freezing Accounts

AverageJoesCredit — Fri, 24 May 2019 21:15:34 GMT

Freezing your reports for security and or self control of apping is one thing, and a good idea. Freezing them to just try and block lenders from accessing a report before or afteran app is a no no. It can be done but is not permitted here.

Re: Question re: Chase and Freezing Accounts

Green456 — Fri, 24 May 2019 22:58:29 GMT

@AverageJoesCredit wrote:
Freezing your reports for security and or self control of apping is one thing, and a good idea. Freezing them to just try and block lenders from accessing a report before or afteran app is a no no. It can be done but is not permitted here.

My social security number leaked. I had all of my accounts frozen for the past 8 months. Lenders have no issue accessing my report. I am able to get FICO score from them and get CLI as well. Once you establish checking account or credit account with lender no amount of freezing is going to block them from accessing your report.

Re: Question re: Chase and Freezing Accounts

Anonymous — Fri, 24 May 2019 23:45:27 GMT

@Green456 wrote:
@AverageJoesCredit wrote:
Freezing your reports for security and or self control of apping is one thing, and a good idea. Freezing them to just try and block lenders from accessing a report before or afteran app is a no no. It can be done but is not permitted here.
My social security number leaked. I had all of my accounts frozen for the past 8 months. Lenders have no issue accessing my report. I am able to get FICO score from them and get CLI as well. Once you establish checking account or credit account with lender no amount of freezing is going to block them from accessing your report.

AJC might be referring to something that comes up here from time to time. I want a card from Bank X, and I currently have no products with them. They tend to pull say TU, but my TU score is lower than the others, so I freeze that, hoping that they will pull one of the others.

This is not encouraged here!

Re: Question re: Chase and Freezing Accounts

AverageJoesCredit — Sat, 25 May 2019 01:53:00 GMT

Yes, thats what i meant. Thanks LTL

Re: Question re: Chase and Freezing Accounts

M_Smart007 — Sat, 25 May 2019 02:16:28 GMT

@Anonymous wrote:
So I've learned that Chase will shut you down if they find out you've applied for new credit too soon after getting one of their cards. I'm assuming they can find that out during their infamous "financial review" by doing a soft pull. However, let's say I apply for and get a CSP, then get another card a few days later, and then freeze all of my reports... will Chase still be able to pull my credit and see what I've been up to if my reports are all frozen?

Look at the Gif below and decide, not encouraged as well noted.

and this ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^could happen!

Re: Question re: Chase and Freezing Accounts

Anonymous — Sat, 25 May 2019 03:01:43 GMT

Got it!